(Reuters) - Audience Inc, which makes chips used in Apple Inc's iPhone, said its top customer is unlikely to use its technology for the next-generation mobile phones, sending the company's shares down 46 percent in extended trading.
The company sells processors and patents its technology to Apple and its units under an agreement, amended in March, the company said.
This transition will not impact Audience's financial results for the third quarter but would affect it a quarter after Apple starts to sell its next-generation mobile phones.
Audience shares were down at $10.11 in trading after the bell. The stock closed at $18.86 on the Nasdaq on Thursday.
(Reporting By Aurindom Mukherjee in Bangalore; Editing by Joyjeet Das)